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Skillings' mining and market Cetter
PUBLISHED EVERY SATURDAY MORNING
VOLUME IV.
DULUTH, MINNESOTA, JANUARY 15, 1916.
No. 34
I BUTTE-ALEX SCOTT COPPER CO. SELLS ITS MINE TO THE ANACONDA 1
GOOD MANAGEMENT HAS CHARACTERIZED THE SELLING COMPANY, AND WISDOM IS :
DISPLAYED. 5
Butte-Alex Scott Copper Co. have sold their
raining property in Butte to the Anaconda for
$750,000 cash, payable upon ratification by the
stockholders. A meeting of the stockholders
for this purpose has been called for February
2, in Duluth, 402 Palladio building'.. The deal
will pay the stockholders at least $10 a share on
the outstanding- stock, which is 79,311 shares.
The company now has a treasury representing
about $S0,000 after all debts are paid. Books
close January 21.
The sale of the Butte-Alex Scott property,
which consists of 4% acres, for $750,000 cash is
regarded as a first class business transaction,
and President W. P. Heimbach and his board of
: "NOBODY THAT PINS FAITH
TO BIG LEDGE AS MINING
SUCCESS IS GOING TO BE
DISAPPOINTED"—LE DUC I
:
Ernest Le Due, president of the Big Ledge
Development company, returned early this week
from a visit to the company's properties in Arizona, bringing with him numerous ore samples,
and feeling much elated over conditions and
prospects. The ore samples are some of the
finest that ever came out of the Black Hills
district of Arizona, and cannot fail to interest
any Big Ledge stockholder, and for that matter
anybody interested in mining,
As has been stated in these columns recently,
the present work of development is mainly
directed to get two of the properties on a regular shipping basis. Some ore is hoisted daily,
and in the course of such work, and Mr. Le Due
•reports five cars thus acquired. No attempt at
regular mining- will be made until development
has been conducted to such extent that it can
be begun and maintained according to the best
mining practice. The work, speaking more specifically, is that of blocking out ore tonnage.
"I am greatly pleased with conditions at the
properties, and nobody that pins his faitli to
Big Ledge as a mining success is going to be
disappointed," declared Mr. Le Due.
HUTTE DIT.VTH MIXIXG.
At this writing word is expected daily from
Butte that the court has acted upon the application of Oscar Rohn, on behalf of the East
Butte Copper company, to take over the Butte
Duluth property and operate it under a two-
year lease, under certain conditions.
The East "Butte company assumes all expenses incident to the receivership, for the
period of the lease, and also the accumulated
expenditures, and all other indebtedness,
amountmg in all to approximately half a million
dollars. The East Butte company further agrees
to increase the Butte Duluth plant for treating
ores to 1000 tons capacity daily, and spend
$100,000 additional on plant and equipment.
Under the terms of the proposed contract the
East Butte company, if it performs its share of
the agreement, will receive from the Butte
Duluth 55£; of the capital stock.
The Butte Duluth Mining companv was promoted by Captain A. B. Wolvin of Duluth, after
he resigned from the office of president of Butte
& Superior. The company encountered financial
difficulties, and was thrown into the hands of a
receiver. A large majority of the stockholders
of the company favor the proposition of the
East Butte company. J. W. Neukom of Duluth,
of the law firm of Cotton, Neukom & Colton,
was the personal representative of Captain
"Wolvin in the proceedings incident to the consideration of the East Butte offer in the Butte
court.
directors are to be congratulated. The management of this company, as this paper has heretofore stated, is excellent. It has been rather
expected for some years that the Scott mine
would pass into other hands, presumably the
Anaconda, since the mine was entirely surrounded by Anaconda ground. It will be recalled
that a few years ago, under the administration
of President N. F. Hugo of the Butte-Alex company, the Anaconda purchased a large pillar of
Scott ore to support its West Colusa shaft.
The wisdom of the Butte-Alex Scott Co. in
selling is perhaps best found in the possibilities
of litigation arising out of intermingling of
veins at lower levels. It was this, perhaps,
that has held Scott down marketwise.
j C. & A. RAILROAD TO AJO
IS COMPLETED AND BIG
LEACHING PLANT WILL BE
BE CONSTRUCTED AT ONCE
It is expetced that at this writing the railroad
which has been under construction from Gila
Bend to Ajo, a distance of 43 miles, to the New
Cornelia properties of the Calumet & Arizona
Mining company, is completed. Work on the
construction of a 4000-ton leaching plant for
the treatment of the New Cornelia ores is to be
built immediately, and will go into commission
about July 1, next year.
The results of treatment in the experimental
plant have been entirely satisfactorv. This
plant has a capacity of 40 tons per dav, and the
experiments were exhaustive before Calumet &
Arizona definitely acted upon the new and large
proposition.
None but people who have followed the career
of Calumet & Arizona with some care fully
understand the importance of the New Cornelia
deal ot that company. Calumet & Arizona owns
1118,921 shares of the stock of the New Cornelia,
which is 76.57C» of the issued stock, and which
it acquired at $1.76 per share, and the minoritv
shares command, at this writing, $13 a share in
the market. As owner of this large holding the
Calumet & Arizona purchased $3,100,000 of the
$4,000,000 issue of 6% convertible bonds of the
New Cornelia. At the current market price of
Aew Cornelia shares the holdings of this stock
by C. & A. represents nearlv $12,000,000.
T> hile some C. & A. stockholders have grumbled because the company did not increase the
dividend rate as fast as thev would like, their
criticism has been unjust. They could not see
apparently, that the management was carefully'
but surely, putting the company on a stronger
basis than ever before, and in position to enjoy
larger income, to be represented in due time by
larger disbursements.
SEEK ORE EXTENSION.
Superior lien Drilling to Get Croft Deposit to
the East.
Superior, "Wis., parties have taken an option
on the East % of the S. E. % of 1, 46-29, in the
village limits of Crosby, Cuvuna range, and
work of drilling for iron will be begun at once
This property is owned bv George H. Crosby of
Duluth and S. S. Thorpe of Minneapolis. 'The
same Superior men have an option on, and are
now drilling, the S. W. % of the N. E *4 of the
same section. This tract adjoins the Croft mine
on the East, and the first described tract is a
further continuation to the East. These tracts
are being explored with the expectation of
locating- an extension of the Croft mine ore
body, and is considered very promising ground
The Croft has begun hoisting ore from development work, and it is fine'quality of Bessemer
grade.
| SELF RELIANCE APPLIED
TO MANGANIFEROUS ORE.
CUYUNA RANGE TO SHIP
HEAVILY DURING 1916
"Self reliance taught by vicissitudes of war
emergency will be rated ten years hence as the
chief good fortune accruing from the strife,"
says a Cleveland paper devoted to the iron
trade, in its introduction of an article on domestic manganese, otherwise known as manganiferous ore. This quoted sentence is extremely
interesting in view of of the fact that this
Cleveland paper a year ago went out of its way
to sneer at the manganiferous ores of the
Cuyuna range.
The Cuyuna range in 1915 furnished more
than 40,000 tons of manganiferous ores for the
steel trade.
In 1916 it will furnish several hundred thousand tons.
The Cuyuna-Mille Lacs mine, the pioneer producer of this ore on the Cuyuna, will ship from
150,000 to 175.000 tons. The Cuyuna-Sultana and
Onahman companies will be heavy shippers, and
it is expected that the Iron Mountain will, if the
company carries out its plans of financing for
further development and equipment. The management of the Sultana expects to ship in excess
of 100,000 tons of manganiferous ore this year.
The unahman's Ferro mine will ship all that it
can, and as it is expected to have 15,000 tons in
stock at the opening of navigation, it is easy
to see that the initial year's shipment will be
large.
The management of the Consolidated mines on
the Vermilion announces that they are preparing for shipment of manganiferous' ore the coming season.
The output of ferromanganese in the TJ. S. in
1915 was 160,000 tons, of which 110,000 tons produced in the last six months. The output of
spiegeleisen was 105,000 tons, of which 60,000
tons was produced the last six months of the
year. Tin- last half of 1915 was on a record
breaking basis for both.
'Self reliance taught by the vicissitudes of
the war," means that the steel operators find
that they can use the Cuyuna range manganiferous ores to advantage. It will, of course, be
of advantage to the steel interests to continue
to import certain quantities of the foreign ores,
but they are finding the domestic manganese
ores very desirable. The war is not responsible
for this sudden appreciation of domestic ores,
but it has hastened the realization of their
value. It took the iron and steel makers quite
a spell to regard Mesaba ores with favor, and
at the outset considered them valuable only for
mixture purposes.
COATES & TWEED MIXES.
Mayas Mine Has Pioneer Minnesota Skipper of
Manganiferous Ore.
Coates & Tweed, independent iron mine operators of Duluth and Virginia, Minn., will ship
actively from their Plymouth mine on the
Gogebic, and the Seville on the Mesaba, and
possibly from one other Minnesota property
The Plymouth is a new property, which is now
being stripped.
Coates & Tweed shipped the first manganiferous ore from Minnesota, from the Mayas mine
on the Eastern Mesaba range, in 1906'and 1907'
They lorwarded altogether 30,000 tons of manganiferous ore, averaging 8% manganese and
52% iron, and running very low in phos. The
Mayas was developed as an iron mine, but there
was a large pocket of manganiferous ore developed. The ore was purchased bv the Pennsylvania Steel company. The Elba mine, a
Pickands-Mather property, produced a substantial shipment of manganiferous ore, several
thousand tons, which ran 45% manganese The
Biwabik, a Tod-Stambaugh mine, and one or
two other Mesaba iron properties, have at times
produced manganiferous ores.
?SmSESOTA Drilling continues to lend
!»i'i .........,»„, much en,couragement to this
de\ EI.opment company s exploration on the
,, . . , Cuyuna range. The fourth
hole is now being put down, and Thursday was
at a depth of 100 feet. The management reports that the first three holes were bottomed
in ore at below the 200 level.
The Duluth plant of the Universal Portland
Cement company will, it is- expected, be ready
lor operation about February 1

Skillings' mining and market Cetter
PUBLISHED EVERY SATURDAY MORNING
VOLUME IV.
DULUTH, MINNESOTA, JANUARY 15, 1916.
No. 34
I BUTTE-ALEX SCOTT COPPER CO. SELLS ITS MINE TO THE ANACONDA 1
GOOD MANAGEMENT HAS CHARACTERIZED THE SELLING COMPANY, AND WISDOM IS :
DISPLAYED. 5
Butte-Alex Scott Copper Co. have sold their
raining property in Butte to the Anaconda for
$750,000 cash, payable upon ratification by the
stockholders. A meeting of the stockholders
for this purpose has been called for February
2, in Duluth, 402 Palladio building'.. The deal
will pay the stockholders at least $10 a share on
the outstanding- stock, which is 79,311 shares.
The company now has a treasury representing
about $S0,000 after all debts are paid. Books
close January 21.
The sale of the Butte-Alex Scott property,
which consists of 4% acres, for $750,000 cash is
regarded as a first class business transaction,
and President W. P. Heimbach and his board of
: "NOBODY THAT PINS FAITH
TO BIG LEDGE AS MINING
SUCCESS IS GOING TO BE
DISAPPOINTED"—LE DUC I
:
Ernest Le Due, president of the Big Ledge
Development company, returned early this week
from a visit to the company's properties in Arizona, bringing with him numerous ore samples,
and feeling much elated over conditions and
prospects. The ore samples are some of the
finest that ever came out of the Black Hills
district of Arizona, and cannot fail to interest
any Big Ledge stockholder, and for that matter
anybody interested in mining,
As has been stated in these columns recently,
the present work of development is mainly
directed to get two of the properties on a regular shipping basis. Some ore is hoisted daily,
and in the course of such work, and Mr. Le Due
•reports five cars thus acquired. No attempt at
regular mining- will be made until development
has been conducted to such extent that it can
be begun and maintained according to the best
mining practice. The work, speaking more specifically, is that of blocking out ore tonnage.
"I am greatly pleased with conditions at the
properties, and nobody that pins his faitli to
Big Ledge as a mining success is going to be
disappointed," declared Mr. Le Due.
HUTTE DIT.VTH MIXIXG.
At this writing word is expected daily from
Butte that the court has acted upon the application of Oscar Rohn, on behalf of the East
Butte Copper company, to take over the Butte
Duluth property and operate it under a two-
year lease, under certain conditions.
The East "Butte company assumes all expenses incident to the receivership, for the
period of the lease, and also the accumulated
expenditures, and all other indebtedness,
amountmg in all to approximately half a million
dollars. The East Butte company further agrees
to increase the Butte Duluth plant for treating
ores to 1000 tons capacity daily, and spend
$100,000 additional on plant and equipment.
Under the terms of the proposed contract the
East Butte company, if it performs its share of
the agreement, will receive from the Butte
Duluth 55£; of the capital stock.
The Butte Duluth Mining companv was promoted by Captain A. B. Wolvin of Duluth, after
he resigned from the office of president of Butte
& Superior. The company encountered financial
difficulties, and was thrown into the hands of a
receiver. A large majority of the stockholders
of the company favor the proposition of the
East Butte company. J. W. Neukom of Duluth,
of the law firm of Cotton, Neukom & Colton,
was the personal representative of Captain
"Wolvin in the proceedings incident to the consideration of the East Butte offer in the Butte
court.
directors are to be congratulated. The management of this company, as this paper has heretofore stated, is excellent. It has been rather
expected for some years that the Scott mine
would pass into other hands, presumably the
Anaconda, since the mine was entirely surrounded by Anaconda ground. It will be recalled
that a few years ago, under the administration
of President N. F. Hugo of the Butte-Alex company, the Anaconda purchased a large pillar of
Scott ore to support its West Colusa shaft.
The wisdom of the Butte-Alex Scott Co. in
selling is perhaps best found in the possibilities
of litigation arising out of intermingling of
veins at lower levels. It was this, perhaps,
that has held Scott down marketwise.
j C. & A. RAILROAD TO AJO
IS COMPLETED AND BIG
LEACHING PLANT WILL BE
BE CONSTRUCTED AT ONCE
It is expetced that at this writing the railroad
which has been under construction from Gila
Bend to Ajo, a distance of 43 miles, to the New
Cornelia properties of the Calumet & Arizona
Mining company, is completed. Work on the
construction of a 4000-ton leaching plant for
the treatment of the New Cornelia ores is to be
built immediately, and will go into commission
about July 1, next year.
The results of treatment in the experimental
plant have been entirely satisfactorv. This
plant has a capacity of 40 tons per dav, and the
experiments were exhaustive before Calumet &
Arizona definitely acted upon the new and large
proposition.
None but people who have followed the career
of Calumet & Arizona with some care fully
understand the importance of the New Cornelia
deal ot that company. Calumet & Arizona owns
1118,921 shares of the stock of the New Cornelia,
which is 76.57C» of the issued stock, and which
it acquired at $1.76 per share, and the minoritv
shares command, at this writing, $13 a share in
the market. As owner of this large holding the
Calumet & Arizona purchased $3,100,000 of the
$4,000,000 issue of 6% convertible bonds of the
New Cornelia. At the current market price of
Aew Cornelia shares the holdings of this stock
by C. & A. represents nearlv $12,000,000.
T> hile some C. & A. stockholders have grumbled because the company did not increase the
dividend rate as fast as thev would like, their
criticism has been unjust. They could not see
apparently, that the management was carefully'
but surely, putting the company on a stronger
basis than ever before, and in position to enjoy
larger income, to be represented in due time by
larger disbursements.
SEEK ORE EXTENSION.
Superior lien Drilling to Get Croft Deposit to
the East.
Superior, "Wis., parties have taken an option
on the East % of the S. E. % of 1, 46-29, in the
village limits of Crosby, Cuvuna range, and
work of drilling for iron will be begun at once
This property is owned bv George H. Crosby of
Duluth and S. S. Thorpe of Minneapolis. 'The
same Superior men have an option on, and are
now drilling, the S. W. % of the N. E *4 of the
same section. This tract adjoins the Croft mine
on the East, and the first described tract is a
further continuation to the East. These tracts
are being explored with the expectation of
locating- an extension of the Croft mine ore
body, and is considered very promising ground
The Croft has begun hoisting ore from development work, and it is fine'quality of Bessemer
grade.
| SELF RELIANCE APPLIED
TO MANGANIFEROUS ORE.
CUYUNA RANGE TO SHIP
HEAVILY DURING 1916
"Self reliance taught by vicissitudes of war
emergency will be rated ten years hence as the
chief good fortune accruing from the strife,"
says a Cleveland paper devoted to the iron
trade, in its introduction of an article on domestic manganese, otherwise known as manganiferous ore. This quoted sentence is extremely
interesting in view of of the fact that this
Cleveland paper a year ago went out of its way
to sneer at the manganiferous ores of the
Cuyuna range.
The Cuyuna range in 1915 furnished more
than 40,000 tons of manganiferous ores for the
steel trade.
In 1916 it will furnish several hundred thousand tons.
The Cuyuna-Mille Lacs mine, the pioneer producer of this ore on the Cuyuna, will ship from
150,000 to 175.000 tons. The Cuyuna-Sultana and
Onahman companies will be heavy shippers, and
it is expected that the Iron Mountain will, if the
company carries out its plans of financing for
further development and equipment. The management of the Sultana expects to ship in excess
of 100,000 tons of manganiferous ore this year.
The unahman's Ferro mine will ship all that it
can, and as it is expected to have 15,000 tons in
stock at the opening of navigation, it is easy
to see that the initial year's shipment will be
large.
The management of the Consolidated mines on
the Vermilion announces that they are preparing for shipment of manganiferous' ore the coming season.
The output of ferromanganese in the TJ. S. in
1915 was 160,000 tons, of which 110,000 tons produced in the last six months. The output of
spiegeleisen was 105,000 tons, of which 60,000
tons was produced the last six months of the
year. Tin- last half of 1915 was on a record
breaking basis for both.
'Self reliance taught by the vicissitudes of
the war," means that the steel operators find
that they can use the Cuyuna range manganiferous ores to advantage. It will, of course, be
of advantage to the steel interests to continue
to import certain quantities of the foreign ores,
but they are finding the domestic manganese
ores very desirable. The war is not responsible
for this sudden appreciation of domestic ores,
but it has hastened the realization of their
value. It took the iron and steel makers quite
a spell to regard Mesaba ores with favor, and
at the outset considered them valuable only for
mixture purposes.
COATES & TWEED MIXES.
Mayas Mine Has Pioneer Minnesota Skipper of
Manganiferous Ore.
Coates & Tweed, independent iron mine operators of Duluth and Virginia, Minn., will ship
actively from their Plymouth mine on the
Gogebic, and the Seville on the Mesaba, and
possibly from one other Minnesota property
The Plymouth is a new property, which is now
being stripped.
Coates & Tweed shipped the first manganiferous ore from Minnesota, from the Mayas mine
on the Eastern Mesaba range, in 1906'and 1907'
They lorwarded altogether 30,000 tons of manganiferous ore, averaging 8% manganese and
52% iron, and running very low in phos. The
Mayas was developed as an iron mine, but there
was a large pocket of manganiferous ore developed. The ore was purchased bv the Pennsylvania Steel company. The Elba mine, a
Pickands-Mather property, produced a substantial shipment of manganiferous ore, several
thousand tons, which ran 45% manganese The
Biwabik, a Tod-Stambaugh mine, and one or
two other Mesaba iron properties, have at times
produced manganiferous ores.
?SmSESOTA Drilling continues to lend
!»i'i .........,»„, much en,couragement to this
de\ EI.opment company s exploration on the
,, . . , Cuyuna range. The fourth
hole is now being put down, and Thursday was
at a depth of 100 feet. The management reports that the first three holes were bottomed
in ore at below the 200 level.
The Duluth plant of the Universal Portland
Cement company will, it is- expected, be ready
lor operation about February 1